BLL has been trending up steadily for literally decades, breaking new all-time highs on a regular basis. Currently it just went through a period of consolidation, then broke out above & made it's latest all-time high. Helped by this is the news that Karina Funk of the $1.1 billion Brown Growth Fund is behind it.
BLL is approaching our first support at 43.11 (horizontal overlap support, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 50.61 (horizontal swing high resistance).
Stochastics (21,5,3) is also approaching support and we might see a corresponding bounce in price.
The price went upwards last few days and reached the cypher pattern 78.6 entry point. There is a structure level at 43.07 that acts as a major resistance level. Most of the selling orders will be placed closed to that area. If the price starts falling, then most trades follow the momentum and sell. I will wait some time more to see how the market develops and then sell.
On the daily the stock has formed another double top. All indicators are pointing down and trend is down. I think this is a good short pay for the next few weeks.
two out of the three indicators are negative, MACD and OBV. Stock RSI is oversold. Overall trend is up. Stock has formed a confirmed double...